Galapagos NV (NASDAQ:GLPG) Expected to Post Quarterly Sales of $27.35 Million
Wall Street brokerages expect Galapagos NV (NASDAQ:GLPG) to announce sales of $27.35 million for the current quarter, according to Zacks. Two analysts have made estimates for Galapagos NV’s earnings. The highest sales estimate is $39.90 million and the lowest is $14.80 million. Galapagos NV reported sales of $32.38 million during the same quarter last year, which would suggest a negative year over year growth rate of 15.5%. The business is scheduled to announce its next quarterly earnings results on Friday, August 4th.
On average, analysts expect that Galapagos NV will report full year sales of $27.35 million for the current fiscal year, with estimates ranging from $109.09 million to $177.26 million. For the next financial year, analysts expect that the firm will post sales of $228.43 million per share, with estimates ranging from $86.87 million to $435.24 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Galapagos NV.
GLPG has been the topic of a number of research reports. BTIG Research restated a “buy” rating and issued a $98.00 price objective on shares of Galapagos NV in a report on Wednesday, July 26th. Zacks Investment Research upgraded Galapagos NV from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Friday, July 14th. Instinet restated a “buy” rating and issued a $108.00 price objective (down previously from $121.00) on shares of Galapagos NV in a report on Thursday, June 22nd. Nomura decreased their price objective on Galapagos NV from $108.00 to $121.00 and set a “buy” rating on the stock in a report on Thursday, June 22nd. Finally, Cowen and Company restated a “buy” rating on shares of Galapagos NV in a report on Wednesday, June 21st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $93.33.
Shares of Galapagos NV (NASDAQ:GLPG) traded down 1.49% during midday trading on Tuesday, reaching $75.86. 90,627 shares of the company traded hands. The company’s market cap is $3.86 billion. Galapagos NV has a 1-year low of $51.91 and a 1-year high of $94.88.
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Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new stake in shares of Galapagos NV during the first quarter worth about $161,000. Acadian Asset Management LLC bought a new stake in shares of Galapagos NV during the second quarter worth about $166,000. Bank of Montreal Can increased its stake in shares of Galapagos NV by 8,736.4% in the first quarter. Bank of Montreal Can now owns 1,944 shares of the biotechnology company’s stock worth $168,000 after buying an additional 1,922 shares during the period. Cim Investment Mangement Inc. bought a new stake in shares of Galapagos NV during the first quarter worth about $203,000. Finally, Karp Capital Management Corp bought a new stake in shares of Galapagos NV during the first quarter worth about $206,000. 19.98% of the stock is owned by institutional investors and hedge funds.
About Galapagos NV
Galapagos NV is a Belgium-based biotechnology company. The Company’s activities are divided into two operating divisions: Research and Development (R & D) and Services. The R & D division is engaged in the discovery and development of small molecules. The Services division, offers target-to-drug discovery products and services to pharmaceutical and biotechnology companies and to patient foundations, encompassing target discovery and validation, screening and drug discovery through to delivery of pre-clinical candidates.
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